Hyperliquid Price Outlook: Breaking Resistance to Reach $47.50?

Hyperliquid (HYPE) is demonstrating a strong bullish trend, with the token rebounding from the $39.20 demand zone and currently trading near $42.50. This recovery follows a solid bounce from support around $36.50 on June 12th, indicating a return to positive momentum. HYPE is now consolidating above key moving averages before testing resistance at the $44.22 supply level. If the price can decisively break through this level with sustained buying pressure, it could reach the target of $47.50 in the near term.